by Valeria Genesio
It used to be “home sweet home”. Today, for many, it has become a mirage.
Since the dawn of time, home has symbolized stability, refuge, and rootedness. It is not a mere material possession. Home is the very essence of belonging: the place where memories settle, identities are forged, and roots are passed down. In many cultures, the domestic environment represents generational continuity, a point of safety and cohesion.
The right to housing is recognized as fundamental by the Universal Declaration of Human Rights (Art. 25), the Italian Constitution (Art. 47), and by numerous rulings of the Italian Constitutional Court. Yet in recent decades, the lack of housing policies and welfare tools has weakened this principle. Housing has increasingly become a financial asset, subject to market and profit dynamics.
The reasons for this shift are multiple and linked to specific economic trends. First, the growing demand for flexible housing in urban areas has boosted short-term rentals and serviced apartments, reducing the availability of long-term leases. Housing is becoming increasingly unaffordable for a large part of the population,
At the same time, the high profitability of short-term rentals has drawn in investors – especially institutional ones – who had traditionally stayed away from the residential sector due to its modest returns. This shift has turned housing into a financial asset, fuelling speculation and pushing it even further away from its original social purpose.
In this context, governments have largely stood by. Only a handful of countries have adopted effective policies to strike a balance between market freedom and the protection of housing rights. More often, interventions have come too late – or worse, have proven counterproductive, generating distortions instead of delivering solutions.
Italy offers a telling example. Lease regulations, originally designed to protect tenants, have become outdated and ill-suited to meet the needs of both renters and landlords. The mandatory 4+4-year lease term, strict constraints on early termination by landlords, and chronically slow eviction procedures have driven many property owners to exit the long-term rental market or turn to more flexible and lucrative options like short-term rentals. The consequence: an even greater reduction in the supply of affordable housing.
The phenomenon of unlawful occupation is a stark symptom of deeper social malaise, manifesting as a form of vigilante justice — a clear sign of institutional failure to guarantee a constitutionally protected right.
The scale of the housing crisis can no longer be ignored. In the past decade, the number of homeless people in Europe has surged by 70%, reaching nearly 900,000. This alarming trend prompted the European Union to launch a dedicated platform in June 2021, aiming—ambitiously but still far off—to end homelessness by 2030.
Only three countries – Finland, Denmark, and Austria – have reported a decline in homelessness, thanks to the adoption of the Housing First strategy, which provides individuals with stable housing as a starting point for accessing healthcare, education, and social services. A pragmatic, results-oriented approach that deserves broader implementation.
If housing is still to be considered a fundamental right, a profound rethinking of public housing policy is essential – freeing it from the confines of market self-regulation.
One tangible step could be to require real estate investors to include social housing investment within their ESG strategies. In real estate, environmental sustainability is now widely addressed; the social dimension, however, remains marginal—despite being key to a truly sustainable and inclusive vision. Mandating or incentivizing the allocation of a portion of investments to affordable housing could be a first move toward realigning public and private interests.
Equally necessary are fiscal tools, such as tax relief for controlled rents or support for participants in social housing programs, following the examples of France or Germany.
There is no more time for delay. Without bold, forward-looking, and structural political decisions, the right to housing will remain nothing more than a noble principle – yet another right enshrined in theory, but denied in practice.
President of Agedi
